This MedTech innovation company directly addresses problems faced by Indian and emerging market consumers and healthcare systems.
The MedTech industry in India faces several challenges, including a lack of trained personnel, equipment, and organisation. However, the severest of challenges is the high dependence of Indian healthcare on imported medical devices.
Read more: {Crypto watch: Cashaa} A single bank account for fiat & crypto for individual & business banking
InnAccel Technologies Pvt Ltd. is creating a portfolio of innovative medical devices designed, engineered, and priced for global markets. It uses the Stanford Biodesign method to identify and validate critical unmet clinical needs in India.
The Tech Panda spoke to Siraj Dhanani, CEO and Founder of InnAccel Technologies about the MedTech problems they are trying to solve.
Siraj Dhanani
We believe it is time for India’s MedTech ecosystem to come to the limelight and for us to take centre stage in the global healthcare ecosystem parallel to our pharma counterparts
“India imports >80% of the medical devices. These devices, built in the West, are suited for their infrastructure, where you have 24*7 electricity, highly trained nursing, OT staff, and compressed gas lines. This highly resource-intensive infrastructure does not exist in India and this has limited the adoption of these technologies in India,” he explains.
“InnAccel is trying to change that by building first-in world technologies, clinically superior to Western technologies, and compatible with the resource constraints and price sensitivity in India and India-like markets,” he adds.
What They Do
InnAccel applies the Biodesign method, taught by Stanford University, to recognise and verify crucial unmet needs in India through a three-four-month clinical immersion at a partner hospital.
A conceptual solution is designed to address a selected need, leading to the development of a regulatory certified product using their proprietary product engineering and development platform. This systematic approach has resulted in the development of multiple products in two focus areas, critical care and maternal and childcare.
At InnAccel, we have long believed that we need to innovate, and domestically manufacture, technologies that are suited for the intrinsic unique needs of Indian healthcare
Through its proprietary engineering development platform, InnAccel has created three novel patented technologies compatible with the Indian healthcare system and affordability constraints, achieved national and global certifications for these, and are manufacturing them in India.
“We believe it is time for India’s MedTech ecosystem to come to the limelight and for us to take centre stage in the global healthcare ecosystem parallel to our pharma counterparts,” says Dhanani.
They primarily focus on two therapy areas, critical care, maternal, and child health, an area that conservatively leads to at least four million deaths every year.
“We aim to bridge these gaps through patented first in world disruptive technologies to solve these critical problems and save lives,” he adds.
Origin & Inspiration
InnAccel started in 2012 as a MedTech accelerator with a view to support external startups in this space. By 2015, the company started emphasising on creating its own portfolio of products for needs identified using the Biodesign process.
In 2019, InnAccel integrated operations with Coeo Labs and Sattva Medtech, former incubatees, to form a single entity with a portfolio of innovative, life-saving products across specialty areas.
Our approach is aligned to the Make in India vision, while we also seek to Innovate in India, for the world
“At InnAccel, we have long believed that we need to innovate, and domestically manufacture, technologies that are suited for the intrinsic unique needs of Indian healthcare. Our approach is aligned to the Make in India vision, while we also seek to Innovate in India, for the world,” says Dhanani.
Growth Story
Already, InnAccel has treated over 20,000 patients and saved the lives of 6-8,000 babies in India.
With Covid narrowing focus on healthcare, Dhanani predicts good things for the potential impact on medical device sales in consumables and implants.
“Healthcare and medical technology received tremendous interest during the Covid pandemic- as their criticality in managing the crisis became clear. This enhanced focus on healthcare and medical technologies will continue in the future, and we expect to see increasing interest in locally developed technologies, that are aligned with the Indian ecosystem and can deliver tremendous impact in real-world settings,” he says.
